Koppers: 3Q Earnings Snapshot
PITTSBURGH (AP) _ Koppers Holdings Inc. (KOP) on Thursday reported third-quarter profit of $7.6 million.
The Pittsburgh-based company said it had net income of 35 cents per share. Earnings, adjusted for asset impairment costs and non-recurring costs, were 73 cents per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.12 per share.
The maker of chemicals, carbon compounds and wood treatment products posted revenue of $442.7 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $502.6 million.
Koppers expects full-year earnings in the range of $3.30 to $3.40 per share.
Koppers shares have decreased 44 percent since the beginning of the year. The stock has decreased 39 percent in the last 12 months.